Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 30-Apr-24

Singapore Telecommunications has announced a $S3.1 billion ($3.5 billion) writedown, most of which relates to its Australian subsidiary Optus. However, its potential impact has been offset by Optus’s agreement with TPG Telecom to share regional telecommunications networks; the agreement will see TPG pay Optus service fees of $1.59 billion over 11 years. Optus will use that money to accelerate its investment in 5G networks and complete them two years faster than foreshadowed. TPG’s deal with Optus comes after competition regulators rejected a $1.8 billion deal proposed by TPG and Telstra in 2023 to share networks and spectrum.

CORPORATES
SINGAPORE TELECOMMUNICATIONS LIMITED, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPG, TELSTRA CORPORATION LIMITED – ASX TLS